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20121101
20121130
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romney is better for business. we're up 81 points. connell: bill richardson and joining us first of former democratic governor of new mexico. good to see you. look at the day dead the slight edge to obama's but what do sure biggest concern today? what is the biggest worry? >> turnout that the election operation is not up to par but i think it is. the hispanic states will cover the president and he will be reelected. nearly 290 votes with the hispanic vote over 70% once again it is a turn out issued to make the difference. connell: you think nevada colorado go to obama and he still wins ohio? >> yes. i am not perfect but the hispanic vote, obviously the storm is a massive tragedy to slow the governor's momentum. the president looked presidential. those two factors will make the difference. connell: looking at the possibilipossibili ty is the rest of the hour but the economic course 10 the former energy secretary, gas prices every day at the all-time high on election day. that have a negative effect at all for the president? >> and not think the voters blame presidents for gas pric
and mitt romney. connell: no power means no baths. the commute in the northeast getting better this morning? they must brace for another storm. a nor'easter threatens the coast. connell: stocks now and every 15 minutes. nicole petallides watching apple for us this morning. nicole: a record launch for the apple ipad mini. either way, -- last week we were slightly to the downside. today, not too far off. however, there is certainly that wait and see attitude for two hours presidential election. dagen: old candidates making their final pushes today before before the polls open less than 24 hours from now. both candidates are in a virtual tie. in virginia, it gives the president a several point advantage. joining me now is an economic advisor to mitt romney. good to see you. can mitt romney potentially turn one of these states? what does he need to do? right now the electoral college map is not leaning in his favor. >> it all depends upon what pulls you look at. i am a businessman. i look out pulls like a look at business models. some of the polls, rasmussen, gallup, that do not allocate five p
point* of each other romney and holds 410 percent and obama at 48%. bill kristol joins us now. everyone takes a guess i think it will be a disaster because of the recount. >> i will take the opposite. i do not want a disaster. it will be very close and the states will be resolved if i have to bet to i think it is meant romney if anybody says they know what will happen is kidding themselves. >> what about ohio? with winner-take-all? >> this important and virginia the lines are very long. there will be at huge turnout if those are republicans who stayed away? obama of voters he successfully mobilize? that is a big question. looking at ohio you don't know that is a good predictor it is extremely close with the tiny edge two romney . gallup, of rassman singh, a battleground poll is dead even but try to adjust for likely voters but the more conventional hour four obama think republicans will do better than that. it is those close. piura. tracy: i do to. but wisconsin could do it any time. virgin yak by petition and there are trigger points. those independent voters could swing either way. >>
romney criss-crossing the country with a day left until voters hit the polls. what's the single thing that could tip the scales one way or the other? we'll ask lucina -- lou dobbs. lori: northeast in the dark, no power, no gas. how much longer will the fuel shortage last? we'll head to the source. melissa: bracing for another storm, a nor'easter with winds and rain had haded this way. can't believe it. all of that straight ahead. lori: unreal. going to the new york stock exchange. stocks searching for direction, mostly leaning lower this session. >> that's right. not too far off the end, major averages we saw with the dow, nasdaq, and s&p. dow jones industrial at 13064, down 30 points now, but as we noted, the market is mixed to a certain extent, watched sector to sector, and movers followed closely. let's look at time warner and transocean offshore. first, let's start off with time warner, the numbers tell you that they underdelivered according to bern steen and other analysts. they lost more than anticipated, but gained interpret customers, fewer than that, and off the elections, an
and defense, they are to the downside. how about health insurers, coal, this is not the romney administration. we are seeing from sector to sector the selloff in wall street. back to you. connell: thank you, now watch this. >> you elected us to focus on your job, not ours. in the coming weeks and months we're looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together. reducing our deficit, reforming our tax code, fixing our immigration system, freeing ourselves from foreign oil. we have more work to do. dagen: that was president obama during his victory speech last night stressed the need for bipartisanship. connell: former managing director at bain capital and author of unintended consequences. a friend of mitt romney's, the polls were right, your friend lost last night in the market down 300 points today, what do you make of it all? >> the online betting predicted 75% probability of an obama win so that means that 25% of the remaining uncertainty left prior to the election. it is really four times bigger if you think about it i
for president obama and governor romney? lori: any politician really feeling the heat today's new york city mayor bloomberg. we just saw his decision to run the marathon even if they're devastated by sandy. we see a stronger dollar, interesting move, gold much weaker, the dollar also stronger against the pound and the yen, but basically on power with the canadian dollar. back with more after this. with the fidelity stock screener, you can try strategies from independent experts and see wh criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >> just about 26 minutes past the hour. powerless residents of long island, new york, could have their electricity back in a week. long island power authority says more than 430,000 customers are currently without power. the news is a little bit better in man
't it a personality campaign at the end of the day? people like barack obama better than mitt romney. >> i think they gave him the benefit of the doubt, that is what you saw yesterday. there's a lot of doubt in the numbers we have seen. barack obama won less of the vote than he won last time. this is not a mandate by any stretch, but it is a call for vice president ship and dealmaking. if the president can't make a deal here, he will have a terrible legacy and it will not improve. lori: had romney won wha when we the selloff today? speak i think the confidence would come back because romney is seen as a businessman and a man of results, he has been results in the government when he ran massachusetts. that would have been momentary if romney was not able in january we would have had to wait until january for those results to even manifest themselves. speech were long road to the holidays regardless of who is in the office. though having the worst intraday drop in a year. we will go to the cme with more bad news. lori: and which tweet was top? it was not just in beaver. tracy: welcome back. the do
a tremendous impact to the effect that romney would win the popular vote. connell: handicap the race for us. >> i think at this point it is too hard to call. i do not think we can really talk knowledgeably about what will happen right now. what we have seen with sandy is the freezing of this election. you do not see the issues we used to see like benghazi or "fast and furious," the other scandals. all of this has been swept away by sandy. a net positive. calling attention to the crucial role played by the federal government. fema is there to back you up. thirty teams being diploid next week on the east coast. connell: charles was just talking about that. you say that it looks good. there are areas, staten island, for example, they say they are not getting the attention they need. >> quick last word on next tuesday. we have seen cheap -- one was with chris christie. the second part was today with the jobs numbers. connell: more jobs added than expected. you are right about that. thank you to both of you. >> thank you. dagen: we had back to staten island to get the very latest on the massive
before heading to the airport. president obama and mitt romney are back on the campaign trail. after three days focusing on the federal response to the storm, the president will attend rallies in wisconsin, nevada and colorado. i am jamie colby and i will send it back now to connell. connell: we will talk to the economy a little bit. specifically, jobs. we have key readings out today ahead of the big report tomorrow. it is up 140 on the dow and i believe they like this jobs report. i want to talk about adp. they had some issues with the way they put it together and they changed their methodology. does that affect the way we should look at it back i do not know. first of all, it is such a short data series. there is not a lot of history to it. i like it better that it is a private company based on their surveys. they look at tomorrow's employment data like it means something. it is so highly revised. last september at the original estimate came out about 100,000 jobs. the market got hit. it was not a good situation. now, if you look at the number after revisions, it is over 200,000 jo
to the bay and they were flooded. nearly 20,000 flights have been canceled. president obama and mitt romney back in the campaign trail after taking a break from harsh attacks during a hurricane. at a campaign rally in virginia governor romney said mr. obama doesn't understand business. while the obama campaign accuses governor romney of lurching false attacks and false attacks. here's breaking news. penn state former president has been charged in the cherries and dusky molestation scandal. he's accused of charges. the school's president for 16 years is the third officially to be accused of crimes in an alleged cover-up. those are your news headlines this hour on the fox business network. back to melissa and lori. lori: thank you so much. breaking news in the aftermath of sandy. con edison said ma it may take until next saturday or sunday, a week from this weekend november 10 or 11th restoring power to some customers. those served by underground networks in midtown and lower manhattan who lost power during the storm will have their service back by this saturday. lori: that affects me. meliss
. >> thank you, connell. connell: republicans still say they are shocked that betty romney did not come out on top last week. how did they go so wrong with the numbers? we will talk about that. one senator ready to go over the fiscal cliff if there are not higher taxes on the risk. plus, today's winners as they see them right now on the s&p 500. markets are down a little, but these stocks are not. they are in the green. ♪ tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-5-2550 i use their global research to get an edge. tdd#: 800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stock
of reach, public opinion. and in the election they did have -- romney did have support for his positions on medicare. that was not repudiate. the public does realize at this point that they need to reform those two entitlements. i think they have a basis, at least, for making that argument with president obama and the democrats, but it's going to be difficult. connell: talk about this more in the second with our next guest of about are you looking at the markets at all after yesterday, people being so uncertain about this whole fiscal cliff steel. not getting anything done last time and worry about it again. dagen: economic growth has been under 2%. with the private sector has done during the last two years of the aba presidency has go on a capital strike. and that, i think, is reflected in the sell-off in the market. a private sector is still on a capital strike. if barack obama wants strong growth in the u.s. economy, he's going to have to extend his hand to the private interests that he vilified so much of the last two years to get reelected. dagen: more spending temecula of the feder
. >> this delusion said romney would win and it would all be ok and we would rollback basel iii -- melissa: a lot worse, not only is president obama in office which is not great for the banks but they're looking for the legislative change but you have people like elizabeth warren gaining power so altogether racemes what is your outlook? >> elizabeth ward is only one of 100 senators. she is an angry calvinist. she is a wonderful lady. i loved her books but i don't know her prescription for regulation is what we need right now. it reminds me of when sheila bair asked me about capital. my answer is no. we are delivering our financial system. the market is disappearing, doesn't exist anymore, $20 trillion of gray market financing outside the traditional banking industry. we need to be focused on this. that is how you get jobs. melissa: what does it mean from a practical point? bank stocks in a better position than others? would you avoid the group as a whole? line up on it? >> if you go down a list wells fargo withdrawing from the mortgage market. save the last man standing. 40% market share. they wi
: my goodness. i understand mitt romney is coming to the white house for that lunch. i don't know, what is everybody expect to come from that? >> the president said the president wanted to talk to governor romney about ideas to make it more efficient. praising the management of the 2002 olympics, said he did a good job there. governor romney is one that raised the ideas happen deductions for tax for people to come up with as far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats.
mitt romney's motorcade. the documents originated the nassau county police department, and an investigation is currently underway about exactly how this happened. as with every 15 minutes, let's check the market. net capital up almost 10% today. nicole: and gaining even more. we're looking at, don't have live pictures, i think up about 15% a moment ago but looking at knight capital earlier today, the "wall street journal" had been reporting that knight capital may be shopping itself around. other high trading market makers on the floor of the new york stock exchange looking at the market making unit of knight capital unit. by the way, the market making unit is the most profitable ballpark. there has been for the report that the whole knight capital could be sold, so with that we are seeing the stock accelerating to the upside. many people remember when we spoke so much about knight capital in early august when implemented software, they launched the new software, the old software, there was a trading glitch and they had to take a big loss on that. causing chaos on wall
at harvard kennedy school where right this very minute senior campaign managers from the romney and obama campaign and every other campaign are being debriefed by top political reporters and it is interesting because obama clearly sees that he has a mandate out of the election on fiscal cliff issues. even though it wasn't a huge issue in the debate the white house is behaving like it has that mandate. what you have been seeing is republicans showing signs of flexibility and i am not just talking john boehner saying revenue is on the table. we have republican senators saying they will stand up to the grover norquist tax pledge. they're willing to break it which is pretty big news. we also have the influential member of congress, republican tom cole saying we have got to agree to extend the tax cut just for those people making $250,000 and below and letting the more wealthy be taxed. definitely flexibility but what you see from democrats is an unwillingness to do serious entitlement reform that would lead to reductions in spending. they want to kick the can down the road and do more of the
likelihood president obama would win the election. he would have a 2% to 4% increase if romney had one, and they have shifted their focus now that we have for sure essentially status quo political alignment. we know the past two years we have had difficulties. quickly shifting the focus produced prospects of the outcome for the fiscal cliff. lori: have we seen the worst? or will we need more time to sort it out? >> one should have a fully mutual acquisition. the fundamental backdrop for the equity market, you still have a pretty good economic backdrop and the economic data has improved the past couple of months. valuations are still reasonable. very accommodating fed and the reelection of president obama assures us the next chairman is likely to be a fairly dovish one as well. lori: so the debate over policies right now the fiscal cliff front and center, the overall health and evaluation of the stock market is pretty good. >> absolutely. equity risk is low compared to alternatives. plus economic data that has been improving. averaging 170,000. lori: we have breaking news, thank you for
are going to hit a wall here. this is what governor romney, paul ryan have been talking about. ryan's two years of budget proposals passed by the house, killed by the democrats in the senate saying, look, we know the laws of economics kick in here, and these programs are going to come to a screeching halt because there is no more money, so what we'd like to do now, before the crisis, is try to reform these programs in order to save them, not destroy them. dagen: i said this for years, social security's an easy fix because you're not dealing with people's health. social security is just, you know, changing the retirement age and changing how the initial benefit is calculated, and that's pretty much it. it seems so simple, but it's hard, nevertheless, to get the republicans a large group of them, to get excited about doing this so do you think that it doesn't happen until, well, until it has to happen? that's a few years from now. >> interesting question because i think one of the big untold stories about the election, you know, yes, barack obama was re-elected, and democrats picked up seat
understood was a big difference between myself and mr. romney, it was, when it comes to how we reduce our deficit, i argued for a balanced responsible approach and part of that included making sure that the wealthiest americans pay a little bit more. i think every voter out there understood that was an important debate and the majority of voters agreed with me. by the way, more voters agreed with me on this issue than voted for me. so we've got a clear majority of the american people who recognize if we're going to be serious about deficit reduction we've got to do it in a balanced way. the only question now is, are we going to hold the middle class hostage in order to go ahead and let that happen? or, can we all step back and say, here's something we agree on. we don't want middle class taxes to go up. let's go ahead and lock that in. that will be good for the economy. it will be good consumer, take the edge off the fiscal cliff. and no, let's also then commit ourselves to broader package of deficit reduction that includes entitlement changes and includes potentially tax reform as well a
. celebrating a possible romney went and did not get it. now they say they're better lock in a 50% gain right now. it does not trade heavy for another three or four years. i think a year end rally takes it back up. lori: how much would you attribute to the wealth effect? >> we do not know. the answer is, we do not know. lori: you are still bullish going forward. >> i am bullish on assets when the worldwide which are economy has a zero short-term interest rate and a long-term interest rate of one or 2% and it will be here for years. not just the united states. europe, japan, sweden, switzerland, singapore -- by assets, do not sit in cash. melissa: why would you buy stock for stock it has become this world where you will be punished for making money no matter where you turn. it just seems like socks is one of the worst options. >> i do not agree that it is one of the worst. i think if you invest properly, you diversify your risk. you own some precious metals, you own some stocks, you own tax-free bonds. the 2.7 is going to go lower. lori: asset allocation, what do you recommend? >> a piece of s
released at international climate talks, and blamed it on far-reaching climate changes. mitt romney finally gets to go to the white house. not the way he imagined, of course. reporting governor romney will have a private lunch with president obama tomorrow. this'll be the first meeting for mr. romney and the president since the election. connell: all the mayhem over the power ball deal, we will hear why so many people may just be throwing their money away. dagen: the newest smart phone. is it flying off of store shelves? $100 with a contract. is it even worth that? walt mossberg is here to tell you yes or no. and they look at how the world currencies are faring against the dollar. copd makes it hard to breathe, but with advair, i'm breathing better. so n i can be in the ene. advair isclinicallyp siificantly improve lu function. unlike moscopd medicions, advair contains both an annflammatory and a long-actinbronchodilat woing together to help improve your lung function all day. advair won't replace fast-acting inhalers for sudd symptoms and should not be used more than twice a day. people wi
information. bank account details, social security numbers and even information about mitt romney's motorcade. it was from the nassau county police department. an investigation is underway. macy's says it uses multicolored confetti. where did it come from? you can take a look at macy's stock today. connell: how about this story. no flu shot, no job. that is the message from one company. after they failed to get a required flu shot, they were out. that was it. they were given termination notices the day before thanksgiving. they had until december 3 to get the shot or get out. we have a doctor with us. the ceo of vital springs technology. what you think of this? >> welcome to obamacare. faced with the challenge of meeting to deal with all of the new expenses. what they have to weigh is, do they force their employees to pay $20 or $25 to get the flu shot or do they end up, you know, eating the expense of all of these people out with the flu and the loss of productivity expense. connell: obamacare does not mandate you get a flu shot. if it is in the plan, then you have to get it for free. the em
the old romney 47% think. why should i add to it. how n the heck did it get to 47% not paying any federal income tax? [talking over each other] a big part of it was ronald reagan's in the reform act of 1886 that, you know, increased reductions and what have you. when i got out of school, probably before both of you were born, it was in the middle 20s. and the direction we are going, guys, it will be in the mid- 50s. in the argument of so-called fairness, we are telling, you know, the top few% that pay 43% of all taxes, it is only fair you pay more. i hope it will be a very welcome outcome. connell: largely, i am sure, it is 2% versus 98% when you pull it. it is very popular, the idea of raising taxes on the rich. they favor extending the bush tax cuts except for the wealthy. neil: you assume that the rich guy pay for it. what i would not do at that table, i would not -- about the appetizer. then, what happens is we penalize those who provide -- believe me, i am not one of these, by the way, nothing wrong with that. i just think it is a disjointed argument. one thing romney did get right,
since it peaked in 2004. president bush who supported reform ran for every election. mitt romney getting 27%. now, post relaxing, or republicans are winning up to immigration reform. >> what we need is a demand base that allows companies that cannot find american workers to bring the foreign workers that they need, as many as they need. peter: marco rubio, the son of cuban immigrants is trying to get the kickstart of immigration. children who were born here should be given the cells, they could eventually become citizens. tracy: peter barnes, thank you very much. reports on housing kind of lifted sentiment on wall street today and provided the latest sign that maybe the recovery in the housing sector is on positive footing. my next guest does not seem to think so. financing or the lack thereof could be a threat. you do not buy these numbers? >> housing is improving. prices are up year over year. demand is up. in some cases, prematurely. with that said, we are a long way back to a normalized market. they be 305,000 new homes this year. we are moving in the right direction. housing is far
the romney victory. now the issues you raised one advice you give? >> look beyond the valley. local -- global gdp and we see around the world the trough is likely to be seen and corporate earnings and the u.s. are likely to be tracing out with a flat shape thinking we have come in through the slump in earnings so stick with the equity exposure. don't like to not to anticipate a big sell-off. lori: we have dividend payers with the crux of the interview with the company's moving up the payout date to avoid the likely tax is that the stock by? with an historic low interest rates? >> i think so. looking at the yield of a little more than 1.5% u.k. gilt variety of companies paying 3% or more. focus on the history of the track record of increasing their dividend and focus on those with buy recommendations. lori: do not be a big part of that is great. but look at the overall capital gains there will be fewer dollars invested or will the drama ago one slowdown because of that concern? with just fewer dollars in the market? will people hold theer cash? >> then they will lose more because they get zero
well governor romney indicated he would approve it in the first day of office. i said with president obama, it could take us six months if we have to get congress to do it directly in case he won't. so i do believe we're going to get it. just because on the merits, we're going to win. we're going to win this on the merits. but if he won't take action, congress will have to. i think i told you it could take up to six months. >> okay. no, thank you for clarifying that. you think you have the support to go around him if you have to is the bottom line? >> i tell you what, the bill i had that would have approved it directly i had 56 votes in the senate and i was missing two republicans -- i was at 58, you know, this past year. and i think if the president punts this thing again, i think that we'll get the 60 we need to pass it. it's already passed, you know -- a similar version has already passed the house. so yeah i believe if he doesn't step up for the american people now and continues to cater to special interest groups, i think we can muster the necessary support in congress to do it.
it as a legacy issue. this was not, these were not acrimonious calls because banks leaned towards mitt romney in a big way. maybe there is, but i am telling you replacing two bank executives and labor coming out of the white house. these were senior people inside obama's administration telling the bank executives yes, we are as you know, the devil is always in the details. who is going to be treasury secretary? that will go a long way determining how the fiscal cliff deficit issue is sorted out. odds-on favorite is the chief of staff, people say the simpson-bowls tax reform plan is still in the running. if he gets it, you will see an interesting negotiation. bowls is probably the most favored democrat in the house and someone republicans feel is serious about a comprehensive tax reform. if the president goes bowls, two interesting. if he goes with jack lew, who is outside favorite, is much more partisan liberal. that adds another dynamic. the conversations that are going on right now. they are not acrimonious and the obama administration to say we are serious about dealing with the deficit an
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